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What does YOUR ideal retirement look like?

Everyone’s idea of the perfect retirement is different. It could involve travelling to new places or settling back in your favourite seaside town. It might be a life of adventure or one of simple relaxation. But whatever life after work looks like for you, one thing everyone wants is a comfortable life and some income. 

That’s where TWUSUPER’s Super Pension options come in.

TransPension is TWUSUPER’s Super Pension product. Depending on how you use it, it's known as a Retirement Super Pension or a Pre-retirement Super Pension.

If you've retired, you can use the Retirement Super Pension on its own or combine it with the Government Age Pension from Centrelink. 

If you’re still working, you can choose a Pre-retirement Super Pension. This can be used for what’s known as a Transition to Retirement Strategy (TTR). Whether you choose this option depends on your circumstances and objectives.

Plan now for a better retirement – because it’s never too early or too late to start planning for a better life in retirement.

Before you retire

Some TWUSUPER members put a Transition to Retirement (TTR) strategy in place.

A TTR strategy aims to reduce tax and increase your super balance before you retire. You can keep working and draw down up to 10% of your balance each year.

You can use a TTR strategy to salary sacrifice pay into your super and draw down your super balance to supplement your reduced income. Why? It reduces your taxable income.

You can also use a TTR strategy to reduce working hours and topping up take home pay with super pension payments.

More about the Pre-retirement Super Pension

After you retire

The Retirement Super Pension provides a tax-free income at your chosen amount and frequency. It’s often used to top up Centrelink and other income (such as investments outside super). Having this income from the Retirement Super Pension separate from the Centrelink Age Pension and other income can help you structure your spending plans (such as earmarking part of your payment to pay for utilities or go towards an annual holiday).  

The Retirement Super Pension is used to provide income after you decide to give up work completely.

More about the Retirement Super Pension

TWUSUPER helps you in retirement

Since 1984, TWUSUPER has been looking after the pension needs of members, regardless of their super balance. As an Industry Super Fund with a strong long-term performance record, we are run only to benefit our members.

Thinking about how your super balance is tracking?

A couple of key questions our members often ask is ‘How much super should I have at my age?’ and ‘How much super do I need to retire?’

How much super should you have at your age?

How much super do you need to retire?

Speak with a retirement specialist

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*Let us know your preferred contact number and preferred callback time between 9am and 5pm (AEST/AEDT) weekdays.

Instead of sifting through information to find out what's relevant to you, ask to speak to a retirement specialist.  The team's available between 9am and 5pm (AEST/AEDT) on 1800 222 071.

Use the form below to request a call back. Note that the call back service is available for Australian residents only. If you're overseas, please call +61 3 9192 4414.

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